Wednesday, 10 May 2017

SEBI set to give nod to Vikram Limaye's appointment as NSE CEO

SEBI set to give nod to Vikram Limaye's appointment as NSE CEO

IDFC Managing Director Vikram Limaye's appointment as the National Stock Exchange (NSE) CEO is likely to be cleared by the Securities and Exchange Board of India (SEBI) over the next few days. Limaye is expected to start his new innings sometime in June, people privy(गुप्त) to the developments told CNBC-TV18. Limaye's appointment had been long pending and SEBI has expressed concerns over his role as part of the Supreme Court-appointed committee to look at the cleanup of the Board of Control for Cricket in India (BCCI). The market regulator is concerned (चिंतित) that Limaye may not be able to efficiently discharge duties as the chief of NSE and has sought clarifications over his role. The Supreme Court had appointed Limaye on the four-member BCCI panel on January 30.

The NSE board has assured(आश्वासन) SEBI that Limaye's commitment to BCCI is only for short term. However, if he is still part of the committee beyond July NSE board will approach the Supreme Court to release Limaye off his responsibility as part of the BCCI panel. SEBI Chairman Ajay Tyagi had last month told reporters that the regulator would soon take a decision on Limaye’s nomination. “We had sought some additional information from NSE on his candidature. These were on three to four aspects. The exchange has replied to us a couple of days back and we would be able to take a call on it soon,” Tyagi had said.

If appointed, Limaye will succeed Chitra Ramkrishna who quit NSE citing personal reasons on December 2.